Equity market sheds N35bn

Omeiza Bilal

Trading activities on the floor of Nigerian Exchange NGX returned to bearish run on Thursday, declining by N35 billion.

Market capitalisation of listed equities declined by 0.06 per cent to N56.469 trillion from N56.504 trillion reported the previous day.

The NGX All Share Index also went down by 62.98 basis points to 99845.91 points against 99908.89 points traded on Wednesday.

An analysis of the investment showed that Guinness Nigeria Plc led gainers table with 10 per cent to close at N55.00, Neimeth international Pharmaceutical followed with a gain of 9.76 per cent to close at N1.80 per unit, Morison gained 9.73 per cent to close at N3.72 per share, international General Insurance added 9.30 per cent to close at N1.41 Kobo per unit, Regal Insurance increased by 8.33 per cent to close at N0.39 per unit.

On the contrary, United Capital topped losers chart, dropping by 9.73 per cent to close at N18.10 per unit, Conhall Plc trailed with a drop of 9.70 per cent to close at N1.21 per unit, CWG down by 9.52 per cent to close at N5.70 per share, Chams Plc fell by 9.14 per cent to close at N1.69 per unit, SUNU Assurance shed 8.20 per cent to close at N1.00 per share.

Volume of transactions also dropped by 36.75 million, representing 11.39 per cent as investors traded 285.905 million shares valued at N5.542 billion in 7726 deals against 322.655 million shares worth N5.820 billion exchanged hands in 9074 deals.

Transactions in the shares of AccessCorp led market activities with 43.979 million shares valued at N766.170 million, GTCO Plc followed with account of 32.790 million shares worth N1.141 billion, United Bank for Africa traded 28.445 million shares cost N649.954 million, Transnational Corporation of Nigeria exchanged 22.007 million shares valued at N795.983 million.